Saturday, 25 November, 2017

Sensex climbs 211 pts on positive economic data points

Sensex moves up 113 pts Nifty climbs above 10,000 Sensex moves up 113 pts Nifty climbs above 10,000
Devin Neal | 17 October, 2017, 00:46

Both the key equity indices on Monday touched record highs soon after opening.

Indian equities ended higher on Monday.

On this basis, the Sensex rose by 201 points to 32, 634, while the Nifty advanced 63 points to 10,200.

The 30-scrip Sensitive Index (Sensex) was trading 122.17 points or 0.38 per cent higher during the afternoon trade.

Metal stocks outshined with shares of Vedanta (up 4.29 per cent), Jindal Stainless (Hisar) (up 3.40 per cent), Tata Steel (up 2.88 per cent), JSW Steel (up 2.50 per cent), NMDC (up 2.12 per cent) and Hindalco Industries (up 1.80 per cent) pushing the Nifty Metal (up 1.87 per cent) to being the top sectoral gainer.

The NSE index Nifty was trading up by 71.50 points, or 0.70 percent, at 10,238.95 after making its new high of 10,242.45 in intra-day trade early.

Industrial output hit a nine-month high of 4.3 per cent in August and CPI inflation held steady at 3.28 per cent in September, instead of accelerating as expected, raising tentative hopes the central bank would be less hawkish about interest rates.

Israel to join USA in quitting Unesco
According to Foreign Policy , France's United Nations ambassador, Fran├žois Delattre, hoped the USA would stay within UNESCO . The critical juncture Fran├žois Delattre referred to may be the selection of UNESCO's new director-general.

Investors also cheered official data, which showed that India's annual wholesale price inflation unexpectedly eased to 2.60 percent in September after accelerating in the previous two months.

On the other hand, the S&P BSE healthcare index fell by 40.67 points, followed by FMCG index by 25.86 points and capital goods index by 24.25 points.

Federal Bank Ltd gained about 7 percent after posting upbeat second-quarter profit.

Closer home, foreign portfolio investors (FPIs) sold shares worth a net Rs 1698.50 crore last Friday, as per provisional data released by the stock exchanges.

Shares of Bharti Airtel, Mahindra & Mahindra, HUL, Tata Motors and Sun Pharma are up 2 per cent.

In Asia, Japan's Nikkei rallied for a sixth day to a level not seen since November 1996.

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